December 10, 2020

Having a hard time saving money? You’re not alone. According to psychologists, putting away money for the distant future is not something humans are naturally wired to do. And saving can be especially hard when you’re supporting friends and family abroad (click here to check the latest exchange rates).

While financial obligations and aspects of our psychology make saving money difficult, it’s not impossible. Here are a few questions to ask yourself to kick-off your savings journey.

Am I afraid to look at my spending habits?

While it’s never fun to scrutinize your own behavior, you can’t change your spending habits without first taking a cold hard look at them.

Am I looking far enough ahead?

If there are things you want in the future, you’ll have to start planning how to get them now. Take 10 minutes to write out a list of future financial goals and make a plan to achieve them.

Am I in competition with others?

“Keeping up with the Joneses” is a trap we all fall into at one time or another. Before you make your next big purchase, ask yourself: Do I need this product or do I want it because I’ve seen other people have it? You might be surprised by your answer.

If you’re struggling to jumpstart your savings, these questions can help get you started.

Looking for an easy way to show friends and family you care this holiday season? Send them a money transfer! Check the latest exchange rates here.